In an oligopoly, price determination is often influenced by:

CA Foundation · Business Economics · MTP · January 2025
In an oligopoly, price determination is often influenced by:
(A) A. The actions of a single firm
(B) B. The collective behavior of a few dominant firms
(C) C. Government-imposed price floors
(D) D. The elasticity of supply alone

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. The collective behavior of a few dominant firms

Topics: Theory of Production and Cost

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